Small Business Accounting- Accounting Basics and Methods

Understanding accounting is a very useful skill to have when it comes to managing a small business. The better a manager understands financial data, the easier it is for them to make a decision. In this post, we will discuss some basic accounting terms as well as accounting methods that are relevant to small businesses.
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Managerial Accounting- Overview of Cost Behavior

Cost behavior analysis is the study of how certain costs behave in a business. Understanding cost behavior is crucial for managers so they can control costs effectively. In this post, we will give a brief overview of cost behavior and the different types of costs a manager can analyze. More information can be found on
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Managerial Accounting- Preparing the Operating Budgets

In previous posts, we’ve discussed how budgeting is essential to managerial control and accounting. Preparing budgets is an important step for managers to plan finances. When it comes to preparing budgets, preparing the operating budgets is usually the first step. In this post, we will explore the different components of the operating budgets.    
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Managerial Accounting- Budgeting Basics

A large part of a manager’s job is planning. Budgets are the main tool managers use for planning and for having financial control in a business. A budget is defined as a formal written statement of a manager’s plans for a time period in financial terms. In this post, we will give some tips and
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Small Business Accounting- Unearned Revenue

In small business accounting, some concepts can be trickier than simply recording assets, liabilities, and transactions. Some companies receive advances in payments before actual services are performed. In accounting, this is called Unearned Revenue. Unearned revenue must be reported in order for companies to comply with GAAP* principles. When the company receives an advance, it
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Managerial Accounting-The Sarbanes-Oxley Act

Even if managers aren’t actively filling out financial information, it’s important that they have a firm grasp on rules and standards for filling out financial information. Also, understanding financial information itself  is critical for managers to make informed decisions. In this post, we will discuss the Sarbanes-Oxley Act and its implications on businesses and managers.
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